Severn is currently head of retail investment policy at the FSA and will take up the position on 1 February 2005.
AIFA director of policy, Fay Goddard, who has been working alongside Paul Smee since AIFA’s inception will be acting director-general in the interim.
Following the arrival of Severn the AIFA executive team will be restructured with Goddard will extend her role as director of policy to include mortgage advice.
Chris Cummings, deputy director-general of both associations, said: “I’ve been offered a wider role at an enlarged and ever-changing AIFA.
“I will be deputy director-general across both AMI and AIFA where I can take forward the objectives of AMI and take it to where the market wants. We will also be working more on general insurance across both bodies.”
John Gummer, chairman of AIFA and AMI, said: “We have been able to select our new director from a very strong field. He is a significant recruit to the IFA cause, bringing with him much experience in regulatory and legislative matters that affect the environment in which IFAs operate.
“He will also be able to address the growing EU agenda for intermediaries. Members will have a very strong team representing them in all areas and at all levels.”
